INDIAN BANK P.O. EXAM HELD ON 2010 CURRENT AFFAIRS QUESTION PAPER
1) In the G 20 Summit held at Piitsburgh,it was agreed to shift ---% quota from developed countries to developing countries (answer 5)
The quotas — the developed countries have a disproportionately large share and hence corner the voting — will be rebalanced so as to give the developing countries an almost 50 per cent share. At present these countries have a 43 per cent share and at the G20 summit it was agreed to effect a 5 per cent shift in IMF quotas(Another important proposal accepted at the summit was to make global governance more inclusive.The G20 also pledged to support an ambitious time table for financial regulatory reforms, including tougher capital requirements and new liquidity rules to be agreed by the end of 2010 and brought in place by end 2012. It was decided to implement the Basle II prudential norms for banks by 2011 and move towards convergence in financial reporting standards.)
2) Which country sent Ocean Sat 2 satellite ? (India )
3) Exports to Euro zones suffered a sudden dip in the last 2/3 months after rising for some time .What does this suggest ?
Answer – The real recovery in the economies of euro countries were not as real/strong as expected
4) US$ is falling against many currencies and it touched a 14 year low against which currency ? (Japanese Yen) (14 month low against Euro)(Euro was introduced in 1999. The US dollar accounts for nearly 64 per cent of the global currency reserves, against 27 per cent held in euros.)
5) Angela Merkel won a second term in which country?
(Germany . She is now the German Chancellor)( In Sep 2009,German voters gave Chancellor Angela Merkel a second four-year mandate to govern the country. They also gave the right-wing coalition of Ms. Merkel’s Christian Democratic alliance (CDU-CSU) and the market-friendly Free Democrats (FDP) led by Guido Westerwelle a comfortable majority to form the next government)
6) India is constructing a road through Sikkim,Arunachal Pradesh,Himachal Pradesh and UttaraKhand and which country is objecting to it ?
7) Who is the OECD Vice Chairman ?
8) India signed a pact with which country regarding use of radio active minerals ?(that country is rich in radio active minerals) (Mongolia)
( The agreement for peaceful uses of radioactive minerals and nuclear energy with Mongolia makes that country the sixth nation after the U.S., Russia, France, Kazakhstan, and Namibia to sign the civil nuclear pact with India after the 45-member Nuclear Suppliers Group lifted the ban.The pacts were signed after Prime Minister Manmohan Singh and the visiting Mongolian President, Tsakhiagiin Elbegdorj, reviewed the entire gamut of bilateral relations and discussed regional and international issues of mutual interest. Dr. Singh said Mr. Elbegdorj’s visit to India, his first overseas tour after elections in June 2009, opened a new chapter in India-Mongolia relations)
9) Who asked all nations to sign NPT ?
UN Security Council (the answer is not UN General Assembly). Both the choices were there.( The UNSC resolution --- passed at a Summit level meeting convened by President Barack Obama on September 24 --- calling for tightening international controls on the proliferation of nuclear weapons, including universalizing membership of the Nuclear Non-Proliferation Treaty and the immediate adherence to its norms by non-parties. The principal target of the resolution may be Iran and North Korea)
10) Foreign Trade Policy announced in Aug 2009 is upto which year ?
11) Who prepared the report ‘World Investment Report 2009: Transnational Corporations, Agricultural Production and Development’ ?
UNCTAD
Some points from that report--twelve of the world’s 25 leading agricultural production (plantation) firms are from developing countries. Sime Darby of Malaysia is largest. Developing country firms are also becoming significant mergers and acquisitions players in agricultural productionTransnational corporations have contributed to domestic food security by boosting agricultural production. Intellectual property rules hamper the diffusion of existing innovations. China is now the world’s leading agricultural FDI destination, with annual flows of $700 million and $6 billion in inward FDI stock, far ahead of the United States whose inward agricultural FDI stock is just $2.5 billion. China, with $1.2 billion in outward agricultural FDI stock in 2007, is now the world’s third largest international agricultural investor after the United States and Canada, and South Korea, Brazil, Chile, and Colombia also figure amongst the global top 20. Ironically, India — one of the largest global agricultural producers with a strong latent international advantage — is absent from this list. Largely responsible is a national agricultural policy that has focused solely on trade as the instrument for agricultural growth, overlooking the potential developmental impact that might issue from encouraging globalised Indian players in agriculture. The economic contribution made by globalised Indian IT, telecom, and pharmaceuticals firms is unequivocal. Fortunately, India has made a start in the right direction. Mahindra & Mahindra is now a global Top 5 tractor producer, and Indian R&D firms’ contributions to seed and crop research are internationally acknowledged. But India still has a long way to go, beginning with the first and most vital step of all — a mindshift in policy.
12) RBI has asked all banks to ensure that their names are not there in the Security Council Committee List. (This is related to KYC norms.. Banks should know the sources of funds received by them .They should not accept funds from unknown sources.)
13) Recently RBI placed some restrictions an ATM usage. They are
Ans—a fee has to be paid if a customer uses the ATM of other banks frequently.
14) CFSA (Committee on Financial Sector Assessment ) recommended changes in which the following laws
(a) Property laws (b) taxation laws (c) banking regulation laws (d) -----(e) all of these answer---c
15) Committee on BPLR (BenchMark Prime Lending Rate ) was headed by-----
Mr.Deepak Mohanty
Committee Recommendations -Replace BPLR system with base rate| The proposed mechanism should apply to all new loans |
Suggests switch over option for existing borrowers
Banks to announce base rate every quarter. The banks, however, will be permitted to lend money below the base rate for loans with a maturity of less than one year or for priority sector advances.16) Banks normally deal with the following issues except
a) Contractual rights of creditors
b) Intellectual Property Rights
c) Cases of Insolvency
d) Payment Systems and Settlements
e) Coordination among regulators
Answer---b—IPR .
17) Who is a Retail Investor ?
(a) Companies (b) FIIs (c) Corporates (d) Individuals (e) all of these
Answer---d—individuals
18) Banks throughout the world write off some loans. They are known as----
Bad and uncollectable loans
19) What is the name of the ARC (Asset Reconstruction Company) which deals only with Small and Medium enterprises
ISARC =India SME Asset Reconstruction Company
20) Which of the following is not a type of inflation ?
(a) Cost push (b) demand pull (c) real wages
ANSWER—real wages
21) India signed FTA with ASEAN countries. What is FTA ?
Free trade agreement
22) An organisation named CRY is working for the development of
Children
23) Which country is the leading Cotton exporting nation ?
USA or China ?(China is the leading Cotton Producing country. India is second).
24) Which of the following parameters is not included in calculating BPL (Below Poverty Line) ?
Marital Status
25) SARFAESI act does not cover
Non Banking Financial Companies (NBFCs)
26) Why was SLR increased by 1% to 25% ?...
To reduce liquidy. (It appears there was another choice ….to reduce inflation…If this was also there, then both are correct)
27) What is the name of the lending rate given to important customers ?
Prime Lending Rate
28) What percentage of bank lending should be given to Priority Sector ?
40 % (10 % of bank lending should go to weaker sections.i.e. 25 % of priority sector loan should go to weaker sections.Weaker sections come within Priority Sector)
29) Whats UNEP ? United Nations Environment Programme
30) Which of the following is exempt from Service Tax ?
The Budget 2009-10 had imposed service tax on transport of goods by rail. Separately, it had also brought services provided in relation to transport of coastal goods and goods through inland water, including national waterways under the service tax net. Later,the Finance Ministry said that in the case of rail services,transport of defence/military equipment, railway equipment/materials, postal mail bags, luggage of train passengers, parcels (including newspapers/magazines), foodgrains, sugar, fertilisers, milk and milk products, fruits and vegetables and motor vehicles will not attract service tax.
Also, kerosene oil meant for supply through public distribution system, petroleum products including LPG cylinders booked by public sector oil marketing companies and transported by Indian Railways will now be service tax exempt.
31) In G3 auction,it was made clear by the Govt. that the operators should give what percentage of revenues to the Govt as fees/commission ? 3 %
32) Parambikulam Aliyar project in ---Anaimalai hills range
33) Jan Sunwai launched in which state first ?
34) Which state amended Panchayat and Municipality acts to have 50% reservation for women in locally elected Govt bodies ?
35) Relaince Industries Ltd pact with Lyondell Basell for acquiring controlling interest. The latter company belongs to which country ? Netherlands.
36) L & T and …in which country ?
37) ‘ A good woman’ book written by Danielle Steel
38) ‘ Maximum city ‘ book written by Suketu Mehta
39) 2016 olympic games will be held in ----------Rio de Janeiro
40) National Billiards Championship was won by ---------Pankaj Advani
41) Mumbai Gold Cup associated with which sports --------Hockey
42) ICC Championship trophy-Which team regained the trophy---- Australia (They beat New Zealand in the finals. Watson was named Man-of-the-Match,
while Australian skipper Ricky Ponting was adjudged
Player-of-the-Tournament held in Centurion /South Africa
43) In Compaq Cricket Cup Which team was the losing team in the finals ?– answer-Sri Lanka (India beat Srilanka in the finals. Indian skipper was MS Dhoni . This Compaq tournament was a tri-nation ODI series held in Colombo .
44) Who won the US Open Mens Tournament ?----- Juan Martin del Potro
45) Which Mutual Fund was the first to transact its units in National Stock Exchange ?
UTI Mutual Fund
46) A question on interest rate futures.. answer none of these..
This is not a trading product. Interest rate futures has been introduced in the country to enable those people who want to hedge their exposures in interest rate futures. For example,if a customer has taken a bank loan from SBI for Rs 50 lakhs repayable in 25 years and if he pays monthly instalment of Rs 40,000- to repay the loan at current interest rates,he runs the risk of paying more than rs 40,000- per month ,if the interest rates move up.(if the interest rates go down,he stands to benefit). To safeguard him from the risk of interest rates going up,he can take positions in interest rate futures (he can go short). If interest rates go up,he will pay more monthly instalments to the bank but will make profit in interest rate futures and he is compensated. If the interest rates go down,he will pay less monthly instalments to the bank but will lose on his position in interest rate futures . Overall loss/gain in both the scenarios will be minimal.
47) Which state sells wheat flour at reduced (subsidised) rates to the people ?
